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Thread: CLOSE CORPORATION AND DECEASED MEMBER

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    CLOSE CORPORATION AND DECEASED MEMBER

    Good morning, can some fine accountant out there please tell me what taxes I would have to pay on a Property left to me in my ex-husband's Will. The property is registered as a close corporation and he was the only member. The property was bought in 1999 for R80000 so I am assuming that is the members loan value. It was sold in Sept this year (2019) by mutual agreement between the executor of the Estate and myself for R900000.00. What will I end up putting into my pocket?

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    Hi Shar,

    Inter spousal donations are tax exempt in terms of estate taxes, since it is in a CC I will request the executor (if the cc was placed in your name) to appoint you as the member, membership interest is kept at CIPC,

    Kind regards
    Francois

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    Francois,

    Will the fact that she inherited the cc exempt the transaction from CGT?


    Sent from my iPhone using Tapatalk

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    Thank you

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